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GTCR to Acquire Vyve to Double MBI’s Footprint in Rural Broadband Markets


Published On :   2019-07-31

GTCR, a US-based private equity company, has entered into a deal for the acquisition of Vyve Broadband, an American provider of broadband, fiber connectivity, cable television, and voice services, from BBH Capital Partners. According to a recent press release by GTCR, the company will see its acquisition of Vyve to completion through its management partnership with Mega Broadband Investments (MBI) formed earlier. The acquisition deal has come within a year’s time after MBI made its initial platform investment in US cable television, telephone, and internet service provider Northland Communications. It will help MBI to push its plan of becoming a scale broadband provider and doubling its footprint in rural markets.

“The acquisition of Vyve presents an exciting opportunity for continuing to build our company’s investment in the cable industry. We are looking ahead to continue our work with Phil Spencer and his team for building a leading cable platform through additional accretive acquisitions, growth in commercial services, and increasing high-speed data penetration,” said MD at GTCR, Phil Canfield.

Vyve to help MBI with state-of-the-art infrastructure to provide improved high-speed data services

GTCR Fund XII, a private equity fund that GTCR raised couple of years ago with limited partner capital commitments of $5.25 billion, will help to fund the MBI and GTCR investment in Vyve. For the acquisition of Vyve, Lazard Middle Market LLC functioned as exclusive financial advisor and Kirkland & Ellis LLP acted as legal counsel for MBI and GTCR.

“Following MBI’s recent platform acquisition of Northland, the acquisition of Vyve is an exciting addition to our company. In attractive geographies, Vyve has developed an outstanding network, and our company is looking ahead to leverage their state-of-the-art infrastructure for continuing to roll out improved high-speed data services for both our commercial and residential customers. Furthermore, Vyve has an excellent employee base, and our company plans for building upon the outstanding work Vyve has done to date as part of efforts to continuously enhance the quality of service provided to our customers,” said CEO of MBI, Phil Spencer.

In 2012, GTCR formed partnership with Phil Spencer for the first time to establish Rural Broadband Investments (RBI). Five years later, the company again partnered with Phil Spencer to form MBI. This partnership was formed to take advantage of the same trends that were responsible for RBI’s success. It focused on the acquisition of rural broadband assets.

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